Travel industry braced for spate of closures after stay-at-home summer

Experts are warning that many holiday firms will collapse after the summer as the number of people planning foreign breaks falls sharply. A third of respondents in a survey by the accountants PriceWaterhouseCoopers said they would be staying at home this summer. The reluctance to travel overseas is a departure from last year's findings where the majority of people ranked holidays and breaks as their top two spending priorities.